Exhibit 10.116
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Aeolus Pharmaceuticals,
Inc.
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Notice of
Grant of Stock Options
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and Option
Agreement
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ID: 56-1953785
P.O. Box 14287, 79 T.W. Alexander Dr.
4401 Research Commons, Suite 200
Research Triangle Park, NC
27709-4287
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[Optionee
Name & address]
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Option Number:
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__________
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Plan:
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2004
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ID:
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__________
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Effective [option date], you have been granted
a(n) Non-Qualified Stock Option to buy
shares of Aeolus Pharmaceuticals, Inc. (the Company) stock at
[exercise price] per share.
The total option price of the shares granted is
$
.
Shares in each period will become fully vested
on the date shown.
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Shares
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Vest Type
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Full Vest
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Expiration
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By your signature and the Company’s
signature below, you and the Company agree that these options are
granted under and governed by the terms and conditions of the
Company’s Stock Option Plan as amended and the Option
Agreement, all of which are attached and made a part of this
document.
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Aeolus
Pharmaceuticals, Inc.
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Date
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[Optionee
Name]
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Date
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AEOLUS PHARMACEUTICALS, INC.
2004 STOCK OPTION PLAN
STOCK OPTION
AGREEMENT
AEOLUS PHARMACEUTICALS, INC., a Delaware
corporation (the “Company”) has adopted the 2004 Stock
Option Plan (the “Plan”), a copy of which has been
provided to Optionee. The Company has granted the Optionee a
nonqualified stock option in accordance with the terms of the
Notice of Grant of Stock Options (“Grant Notice”)
issued to the Optionee. This Option is subject to the terms and
conditions of the Plan. Capitalized terms used herein and not
defined have the same meanings as set forth in the Plan.
IT IS AGREED as follows:
1. Grant of Option . The Company hereby
grants to the Optionee as of the date of the Grant Notice the right
and option to purchase (subject to adjustment pursuant to Section
15 of the Plan) the number of shares specified in the Grant Notice
of its Common Stock, $.01 par value, (“Common Stock”)
at an option exercise price per share equal to the exercise price
per share specified in the Grant Notice.
2. Option Period . The option granted
hereby shall expire on the date specified in the Grant Notice,
subject to earlier termination as provided in the Plan or this
Option Agreement.
3. Exercise of Option .
A. The Optionee may exercise the
Option hereby granted to the extent vested, from and after the
dates set forth in the Grant Notice on a cumulative
basis.
B. The Optionee may exercise all or
a portion of the Option (to the extent then exercisable) by
delivering to the Company a written notice duly signed by the
Optionee stating the number of shares that the Optionee has elected
to purchase and accompanied by (i) payment of an amount equal to
the full purchase price for the shares to b
